With the popularization of start-ups, Entrepreneurship is something most of the youngsters look forward to eagerly. But then, there are some misconceptions regarding entrepreneurs that are holding many people back from getting into this enterprising field. Then there are some such misconceptions that urge some people to take it up wrongly too!
Here are some of the common misconceptions about entrepreneurs:
An Entrepreneur is Born and not Made
While it remains true for many people, it also remains true that most of the entrepreneurial skills can be developed over time.
Success and Profit are the only motivations
Money and success are not the only motivators for businesses. Recognition and social welfare too are great motivators for many entrepreneurs. Money is a motivator and the means to move ahead. But it is not the ultimate goal for all entrepreneurs. Many entrepreneurs were born for social welfare activities and to provide a better lifestyle, education or healthcare for the less-privileged.
Only the Wealthy can be an Entrepreneur
This is definitely the biggest blunder! Entrepreneurs have a lot of ways to source funds for their venture. What they actually need is a worthy idea, the right connections, and the flare to get things done.
Entrepreneurs are their own Boss
While decision making can be done by the entrepreneur, he or she has a group of people to whom they are answerable. The investors or the stakeholders are the bosses who can constantly cross check on the deeds of the entrepreneur. The entrepreneur is answerable to them. More than often, the entrepreneur ends up being the most loyal and responsible employee of his own venture.
You need many years’ experience to be successful
This is an age when teenagers and children younger than 10 are running their own start-up ventures! While experience definitely helps, it is not a must to be an entrepreneur.
One idea can change your life
This is a huge mistake many people make. They cling to one idea and try to make it big. But entrepreneurs have to constantly come up with bigger and better ideas to survive in a highly competitive market. Ideation is an ongoing process in entrepreneurship.
They have built it alone
While there are many entrepreneurs who have built up their empire on their own, it is more because they were unable to find the right partners or mentors to guide them. Currently, all over the world, the governments are providing ample support to the entrepreneurs.